Soccer / business

The brilliance of the Premier League is very fast, its reach is all over the world. So for some of the richest people in the world, buying a Premier League club is an achievement of pride. That is why there are still some rich American owners in English clubs, some Russian industrialists and some Chinese companies. In the end, English Premier League club Newcastle United could not be bought and sold with Saudi investment. Another English club was stopped from being owned by foreigners. Saudi investors went through a long process to buy the club, but lost. Some have argued that Newcastle should not be sold to Saudi investors. They too had been working to create pressure for a long time. Saudi investors have not directly criticized the Premier League after everything went awry, but said the buying process was long and cumbersome, with invisible elements. The main institution of Saudi investment was the Public Investment Fund. The Premier League itself, which has been keeping a close eye on Newcastle's possible buying and selling in April, has said nothing, as if in silence. There is also an English businesswoman in this Saudi effort.Her name is Amanda Staveli. She also owned a company that sold British property. But the original investment was to come from Saudi Arabia. In the process, the buyer would have bought the club and the stadium it used, paying 400 million. Newcastle has been owned by Mike Asley since 2007. He is very unpopular among the supporters of the club. Asley is a big trader in sports equipment. The brilliance of the Premier League is very fast, its reach is all over the world. So for some of the richest people in the world, buying a Premier League club is a small achievement. That is why there are still some rich American owners in English clubs, some Russian industrialists and some Chinese companies. Later, UAE investment was also added. In the meantime, Saudi Arabia could have been added. But if there is any work involving Saudi Arabia, there will be thousands of protests. Human rights activists come forward and hold accountable the murdered journalist Jamal Khasogi. His wife wrote a letter directly to Premier League executive director Richard Masters, urging Saudi investors to stop buying Newcastle. The Saudi government has invested in the public investment fund. More obviously, Prince Mohammed Bin Salman. There were others trying to stop the Saudis from buying. Like the top officials of the Premier League and the Qatari-invested Bean Media Group. The group is the largest live broadcaster of a Premier League game. It says Saudi Arabia has been illegally playing Premier League games in its country for the past three years. The only way to show the Premier League with Saudi was to rely on the same Qatari company. He didn't want to do that and instead started playing league games illegally. Just a few days ago, the Premier League wrote a letter to the US government to keep an eye on Saudi Arabia. The point was, isn't Saudi Arabia violating intellectual property rights? When Saudi investors show interest in buying Newcastle, it is the top officials of Bein Media Group who are most openly against it. They did not want Saudi to enter the Premier League quickly. Therefore, the Premier League also used many excuses to prevent Saudi investors from buying Newcastle. From now on, there were many obstacles that new investors should be like this and that. So far no government intervention has been required in the sale of the Premier League club. The Saudi investor himself said that Newcastle had withdrawn from the process and that intervention was no longer needed. The Saudi investor said in a press release that buying Newcastle was no longer a business venture. The only thing left is that since Asley started the process of selling the club, he has not had to return the 20 million dollars taken from the Saudi investor. It was like a non-refundable deposit. Nowadays, every game in the Premier League is watched with the same interest and enthusiasm thousands of kilometers away from the stadium where the competition takes place, no other competition is so popular in the whole world. In the early days, most club owners were British. He has now been replaced by foreign investors from all over the world, from the United States to Europe and from Asia to Africa. Saudi investors initially said it would be the team to compete for the league title within five years. Accordingly, investment will also be made in the physical infrastructure of the club. That's an additional $320 million. If this investment had come, it would not have been the first Gulf country to enter the Premier League. The UAE royal family has invested in Manchester City. The club is run by this family. Such a desire of the Saudi royal family has been stopped, at least for now. But the saddest part of all this has been Newcastle supporters. These supporters do not like Asley at all. Newcastle fans also want their favorite club to be like Manchester City. They want the club, which is very popular in England, to be able to claim the league title. It is not that Newcastle did not challenge for the league title for a few seasons in the 90's, but now the club is not very strong. For him, avoiding relegation has become big. The last time the league won the FA Cup was in 1955, and the last time it won the league was in 1927.